The Vanguard Group, Inc. recently announced the acquisition of new stake in Enphase Energy Inc. (NASDAQ:ENPH). The institutional investor has increased its shareholding in the Technology company by 1.94% to 15.12 million shares with purchase of 0.29 million shares. This fresh investment now brings its stake to 11.04% valued currently at $2.48 billion. In addition, BlackRock Fund Advisors raised its holdings by 0.11 million to 8.81 million shares. And BlackRock Advisors has lifted its position by 14.72% or 0.39 million shares – to 3.03 million shares.
With over 3.1 million Enphase Energy Inc. (ENPH) shares trading Friday and a closing price of $162.37 on the day, the dollar volume was approximately $504.05 million. The shares have shown a negative half year performance of -46.80% and its price on 05/19/23 lost nearly -0.82%. Currently, there are 136.69M common shares owned by the public and among those 133.17M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 41 analysts who have offered their price forecasts for ENPH have a consensus price objective of $256.05. The analysts have set the share’s price value over the next 12 months at a high of $341.00 and a low of $169.00. The average price target is 37.48% above its recent price level and an upside to the estimated low will see the stock gain 3.92% over that period. But an upside of 52.38% will see the stock hit the forecast high price target while median target price for the stock is $259.00.
Insiders at the company have transacted a total of 157 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 27 of these insider trades were purchases, accounting for 702,152 shares. Insider sales of the common stock occurred on 130 occasions, with total insider shares sold totaling 727,660 shares.
The top 3 mutual fund holders in Enphase Energy Inc. are Vanguard Total Stock Market ETF, Vanguard Mid Cap Index Fund, and Vanguard 500 Index Fund. Vanguard Total Stock Market ETF owns 4.23 million shares of the company’s stock, all valued at over $694.09 million. The company bought an additional 44053.0 shares recently to bring their total holdings to about 3.08% of the shares outstanding. Vanguard Mid Cap Index Fund bought 16006.0 shares to see its total holdings expand to 3.19 million shares valued at over $523.51 million and representing 2.33% of the shares outstanding. Vanguard 500 Index Fund bought 15320.0 shares to bring its total holdings to over 3.17 million shares at a value of $521.05 million. Vanguard 500 Index Fund now owns shares totaling to 2.32% of the shares outstanding.
Shares of Enphase Energy Inc. (NASDAQ: ENPH) opened at $165.35, up $1.63 from a prior closing price of $163.72. However, the script later moved the day high at 166.72, down -0.82%. The company’s stock has a 5-day price change of -3.09% and -20.79% over the past three months. ENPH shares are trading -38.72% year to date (YTD), with the 12-month market performance up to 3.97% higher. It has a 12-month low price of $152.15 and touched a high of $339.92 over the same period. ENPH has an average intraday trading volume of 3.98 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -4.85%, -15.12%, and -35.38% respectively.
Institutional ownership of Enphase Energy Inc. (NASDAQ: ENPH) shares accounts for 81.20% of the company’s 136.69M shares outstanding. Mutual fund holders own 30.06%, while other institutional holders and individual stakeholders account for 47.76% and 16.98% respectively.
It has a market capitalization of $22.44B and a beta (3y monthly) value of 1.50. The stock’s trailing 12-month PE ratio is 47.95, while the earnings-per-share (ttm) stands at $3.39. The company has a PEG of 2.54 and a Quick Ratio of 3.20 with the debt-to-equity ratio at 1.33. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.89% over the week and 4.40% over the month.
Analysts forecast that Enphase Energy Inc. (ENPH) will achieve an EPS of $1.27 for the current quarter, $1.38 for the next quarter and $7.29 for 2024. The lowest estimate earnings-per-share for the quarter is $0.86 while analysts give the company a high EPS estimate of $1.49. Comparatively, EPS for the current quarter was $1.07 a year ago. Earnings per share for the fiscal year are expected to increase by 170.30%, and 30.52% over the next financial year. EPS should shrink at an annualized rate of 18.86% over the next five years, compared to 86.70% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 39 brokerage firm advisors rate Enphase Energy Inc. (ENPH) as a “Moderate Buy” at a consensus score of 2.10. Specifically, 26 Wall Street analysts polled rate the stock as a buy, while 9 of the 39 advise that investors “hold,” and 0 rated it as a “Sell.”
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